Macias Gini and O’Connell LLP, a Top 100 Firm based in Los Angeles, is expanding its presence in New York by adding Nussbaum, Berg, Klein & Wolpow, CPAs LLP, a firm with offices in Manhattan and Long Island.
The deal will add 73 employees, including 11 partners, to MGO. Prior to the merger, MGO had more than 600 staff members, including 48 partners and three principals.
Nussbaum dates back to 1990 and offers accounting, auditing, tax, and business advisory services to closely held entrepreneurial businesses, middle-market public companies and high-net-worth individuals on the East Coast. The merger will also enable MGO to augment its cannabis accounting practice.
Financial terms of the deal were not disclosed. MGO ranked No. 59 on Accounting Today‘s 2022 list of the Top 100 Firms, with $98 million in annual revenue.
“Nussbaum has a rich history in New York and is known for its deep commitment to client service,” said MGO CEO and managing partner Kevin O’Connell in a statement Wednesday. “We’re thrilled to bring their team into the MGO fold. The East Coast’s concentration of wealth and emerging cannabis markets give us an opportunity to continue building value and establishing best practices through our private client services group, cannabis practice, and other industry initiatives.”
Nussbaum managing partner Steve Wolpow is joining MGO as the office managing partner of the Long Island office in Melville, New York. “This is a unique opportunity to enhance the services and client experience Nussbaum is known for by leveraging MGO’s size and international footprint,” he said in a statement. “This is a momentous step for both our clients and our professionals, and we are excited about the future as part of MGO.”
Accountants Advisory Group CEO Joe Tarasco advised both firms on the merger, “This deal makes MGO a major player in Long Island, New York, with its second combination in the area,” he said in a statement. “MGO is one of the fastest growing CPA and advisory firms in the U.S. The firm continues to expand on the East Coast to offer its deep industry expertise that has made MGO so successful.”